Lasalle Investment Management Securities LLC Purchases Shares of 1,426,241 Four Corners Property Trust, Inc. $FCPT

Key Points

• Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust during the fourth quarter, acquiring 1,426,241 shares worth about $32.9 million. The position represents 1.34% of FCPT and is Lasalle’s 28th largest holding.
• Four Corners Property Trust reported Q1 earnings of $0.28 per share, missing analyst estimates, though revenue of $78.17 million came in above expectations and rose 9.4% year over year. Analysts currently have an average Hold rating with a $28.00 price target.
• The company paid a quarterly dividend of $0.3665 per share, implying an annualized yield of 5.9%. CEO William H. Lenehan also bought 3,961 shares in a recent insider transaction, signaling continued insider ownership.

Lasalle Investment Management Securities LLC purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,426,241 shares of the financial services provider's stock, valued at approximately $32,889,000. Four Corners Property Trust comprises 1.3% of Lasalle Investment Management Securities LLC's holdings, making the stock its 28th largest holding. Lasalle Investment Management Securities LLC owned 1.34% of Four Corners Property Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock valued at $25,000 after buying an additional 463 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider's stock valued at $26,000 after buying an additional 995 shares during the last quarter. First Horizon Corp increased its stake in Four Corners Property Trust by 147.4% in the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider's stock valued at $27,000 after buying an additional 709 shares during the last quarter. Huntington National Bank increased its stake in Four Corners Property Trust by 114.1% in the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider's stock valued at $36,000 after buying an additional 836 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in Four Corners Property Trust by 1,632.6% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider's stock valued at $40,000 after buying an additional 1,551 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.96 on Monday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.29 and a beta of 0.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The company has a 50-day simple moving average of $24.77 and a 200 day simple moving average of $24.48. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $28.11.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. On average, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.75 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.3665 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust's payout ratio is currently 131.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FCPT shares. BMO Capital Markets started coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They set a "market perform" rating and a $27.00 price objective on the stock. Citizens Jmp upgraded shares of Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research note on Wednesday, March 25th. Citigroup restated a "market outperform" rating on shares of Four Corners Property Trust in a research note on Monday. Barclays boosted their price objective on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 21st. Finally, Raymond James Financial lowered their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 17th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $28.00.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 3,961 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $25.23 per share, with a total value of $99,936.03. Following the acquisition, the chief executive officer directly owned 775,696 shares of the company's stock, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Four Corners Property Trust Profile

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.

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